Two-Unit Duplex with
For Sale
$600,000
441 W GLOUCESTER St, Gladstone, OR 97027
MultiFamily, Gladstone, OR
Property Size2,240 SF
Lot Size0.19 Acres
Price / SF$267.86
Days on Market292
Property Features for 441 W GLOUCESTER St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MR
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bathroom 3, Bathroom 1, Bedroom 4, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 3, Bedroom 5, Bedroom 2
Elementary school
John Wetten
Middle school
Kraxberger
High school
Gladstone
Directions
I-205, take exit 9 toward Gladstone, R on W Gloucester St.
Subdivision
_145
Standard status
Active
APN
00528003
Size
2,240 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Description
137 APPERSONS ADD GLADSTONE LT 7 PT LT 6
Tax Annual Amount
5934
Legal Description
137 APPERSONS ADD GLADSTONE LT 7 PT LT 6
Utilities
Heating system
Forced Air
Building Details
Year built
1973
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
eXp Realty, LLC
(888) 814-9613
Listed By:
Nick Shivers · License #200209063
(503) 389-0821
Added: Nov 19, 2025
Changed: Sep 7
Last Checked: Sep 7 at 5:06PM
MLS# 722649627
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1973, this duplex contains 2,240 square feet across two residences, with each unit offering 1,120 square feet, 3 bedrooms, and 2 bathrooms. Both homes include an attached 1-car garage, a living room with a wood stove, a kitchen equipped with a dishwasher, range, and refrigerator, plus dining space and in-unit laundry. Sliding doors connect each dining area to a private patio, while the primary bedroom includes a private bathroom. Additional features include forced-air heating and a composition roof.
The 0.19-acre property is located in Gladstone near dining, shopping, schools, parks, and walking and biking paths. Quick access to 99E supports regional commuting. MR zoning applies to the property.
The 0.19-acre property is located in Gladstone near dining, shopping, schools, parks, and walking and biking paths. Quick access to 99E supports regional commuting. MR zoning applies to the property.
Key Highlights
- Two residences totaling 2,240 square feet
- Each unit has 3 bedrooms, 2 bathrooms, and 1,120 square feet
- Attached 1‑car garage provided for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,762
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$575,240
$575.2K
Cap Rate 7%
$410,886
$410.9K
Cap Rate 9%
$319,578
$319.6K
Market Conditions
NOI Build-Up for 2,240 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$55.1K $24.60/SF
− Vacancy
−$2.8K −$1.25/SF
EGI
$52.3K $23.35/SF
− OpEx
−$23.5K −$10.51/SF
NOI
$28.8K $12.84/SF
Area
Clackamas County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$575,240
Cap Rate 7%
$410,886
Cap Rate 9%
$319,578
Alternative Uses
Best Use
Apartment 5plus
$410.9K
$359.5K – $479.4K
NOI $28,762 @ 7.0% cap · market cap 4.79%
Second Best
Multifamily LT 5
$402.0K
$351.7K – $469.0K
NOI $28,137 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$604.6K
$529.1K – $705.4K
NOI $42,324 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 97027, OR
12,599
Population
5,365
Households
2.3
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
2.5 sq mi
ZIP Area
5,040
Density / Sq Mi
$91,957
Median Household Income
$49,689
Median Earnings
$1,721
Median Rent
$464,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - MR-zoned duplex with private patios, in-unit laundry, wood stoves, and attached garages for each residence.
Where is this duplex located?
The property is located at 441 W GLOUCESTER St Gladstone, OR.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two residences totaling 2,240 square feet; Each unit has 3 bedrooms, 2 bathrooms, and 1,120 square feet; Attached 1‑car garage provided for each unit
